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Side-by-side financial comparison of RHYTHM PHARMACEUTICALS, INC. (RYTM) and TPG RE Finance Trust, Inc. (TRTX). Click either name above to swap in a different company.
RHYTHM PHARMACEUTICALS, INC. is the larger business by last-quarter revenue ($60.1M vs $35.0M, roughly 1.7× TPG RE Finance Trust, Inc.). TPG RE Finance Trust, Inc. runs the higher net margin — 15.6% vs -92.6%, a 108.2% gap on every dollar of revenue. On growth, RHYTHM PHARMACEUTICALS, INC. posted the faster year-over-year revenue change (83.8% vs 0.9%). Over the past eight quarters, RHYTHM PHARMACEUTICALS, INC.'s revenue compounded faster (43.8% CAGR vs -5.1%).
Rhythm Pharmaceuticals is a biopharmaceutical firm focused on developing and commercializing targeted therapies for rare genetic disorders causing severe unmanageable obesity, including POMC deficiency, LEPR deficiency, and Bardet-Biedl syndrome. It serves patients in North America and Europe who lack effective standard treatments for their chronic life-altering conditions.
TPG RE Finance Trust, Inc. is a commercial real estate finance firm primarily operating in the United States. It originates, underwrites and manages a portfolio of senior commercial mortgage loans and other real estate-linked debt instruments, serving commercial property owners and investors across multifamily, industrial, office and retail property segments.
RYTM vs TRTX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $60.1M | $35.0M |
| Net Profit | $-55.6M | $4.0M |
| Gross Margin | 88.1% | — |
| Operating Margin | -87.1% | 11.6% |
| Net Margin | -92.6% | 15.6% |
| Revenue YoY | 83.8% | 0.9% |
| Net Profit YoY | — | -62.8% |
| EPS (diluted) | $-0.83 | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $60.1M | — | ||
| Q4 25 | $57.3M | $35.0M | ||
| Q3 25 | $51.3M | $37.8M | ||
| Q2 25 | $48.5M | $36.2M | ||
| Q1 25 | $32.7M | $37.0M | ||
| Q4 24 | $41.8M | $34.7M | ||
| Q3 24 | $33.3M | $40.1M | ||
| Q2 24 | $29.1M | $39.3M |
| Q1 26 | $-55.6M | — | ||
| Q4 25 | $-47.5M | $4.0M | ||
| Q3 25 | $-52.9M | $22.0M | ||
| Q2 25 | $-46.6M | $20.6M | ||
| Q1 25 | $-49.5M | $13.7M | ||
| Q4 24 | $-43.3M | $10.7M | ||
| Q3 24 | $-43.6M | $22.2M | ||
| Q2 24 | $-32.3M | $24.7M |
| Q1 26 | 88.1% | — | ||
| Q4 25 | 91.6% | — | ||
| Q3 25 | 89.3% | — | ||
| Q2 25 | 88.6% | — | ||
| Q1 25 | 88.8% | — | ||
| Q4 24 | 90.9% | — | ||
| Q3 24 | 88.5% | — | ||
| Q2 24 | 89.9% | — |
| Q1 26 | -87.1% | — | ||
| Q4 25 | -82.2% | 11.6% | ||
| Q3 25 | -102.6% | 58.4% | ||
| Q2 25 | -93.4% | 57.3% | ||
| Q1 25 | -143.7% | 37.2% | ||
| Q4 24 | -98.6% | 30.3% | ||
| Q3 24 | -132.0% | 55.4% | ||
| Q2 24 | -139.2% | 63.1% |
| Q1 26 | -92.6% | — | ||
| Q4 25 | -83.0% | 15.6% | ||
| Q3 25 | -103.1% | 58.1% | ||
| Q2 25 | -96.1% | 57.0% | ||
| Q1 25 | -151.4% | 37.0% | ||
| Q4 24 | -103.6% | 43.3% | ||
| Q3 24 | -131.2% | 55.3% | ||
| Q2 24 | -110.9% | 62.9% |
| Q1 26 | $-0.83 | — | ||
| Q4 25 | $-0.73 | $0.01 | ||
| Q3 25 | $-0.82 | $0.23 | ||
| Q2 25 | $-0.75 | $0.21 | ||
| Q1 25 | $-0.81 | $0.12 | ||
| Q4 24 | $-0.71 | $0.09 | ||
| Q3 24 | $-0.73 | $0.23 | ||
| Q2 24 | $-0.55 | $0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $340.6M | $87.6M |
| Total DebtLower is stronger | — | $3.3B |
| Stockholders' EquityBook value | $122.9M | $1.1B |
| Total Assets | $442.3M | $4.4B |
| Debt / EquityLower = less leverage | — | 3.10× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $340.6M | — | ||
| Q4 25 | $388.9M | $87.6M | ||
| Q3 25 | $416.1M | $93.6M | ||
| Q2 25 | $291.0M | $165.8M | ||
| Q1 25 | $314.5M | $363.0M | ||
| Q4 24 | $320.6M | $190.2M | ||
| Q3 24 | $298.4M | $226.3M | ||
| Q2 24 | $319.1M | $259.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B |
| Q1 26 | $122.9M | — | ||
| Q4 25 | $139.1M | $1.1B | ||
| Q3 25 | $148.8M | $1.1B | ||
| Q2 25 | $-11.9M | $1.1B | ||
| Q1 25 | $18.9M | $1.1B | ||
| Q4 24 | $21.7M | $1.1B | ||
| Q3 24 | $11.2M | $1.1B | ||
| Q2 24 | $39.3M | $1.1B |
| Q1 26 | $442.3M | — | ||
| Q4 25 | $480.2M | $4.4B | ||
| Q3 25 | $506.9M | $4.1B | ||
| Q2 25 | $372.7M | $4.2B | ||
| Q1 25 | $386.7M | $4.0B | ||
| Q4 24 | $392.3M | $3.7B | ||
| Q3 24 | $363.6M | $3.7B | ||
| Q2 24 | $381.8M | $3.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.10× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 2.78× | ||
| Q1 25 | — | 2.56× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.22× | ||
| Q2 24 | — | 2.25× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $90.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 22.73× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-25.4M | $90.4M | ||
| Q3 25 | $-26.6M | $21.8M | ||
| Q2 25 | $-23.3M | $24.7M | ||
| Q1 25 | $-40.4M | $19.1M | ||
| Q4 24 | $-18.8M | $112.1M | ||
| Q3 24 | $-25.2M | $23.7M | ||
| Q2 24 | $-29.1M | $25.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 22.73× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.39× | ||
| Q4 24 | — | 10.50× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
